South Carolina § 31-1-630 - Reduction of rentals.
Full text of South Carolina South Carolina Code of Laws § 31-1-630 — Reduction of rentals., with citation guidance and answers to common questions.
§ 31-1-630. Reduction of rentals.
If in any calendar or fiscal year the gross receipts of any company formed hereunder should exceed the payments or charges specified in Section 31-1-620, the sums necessary to pay dividends, interest accrued or unpaid on any stock or income debentures and the authorized transfer to surplus, the balance shall, unless the board of directors with the approval of the director shall deem such balance too small for the purpose, be applied to the reduction of rentals.
HISTORY: 1962 Code SECTION 36-53; 1952 Code SECTION 36-53; 1942 Code SECTION 5271-25; 1933 (38) 176; 1993 Act No. 181, SECTION 501.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 31-1-630
What does South Carolina Code of Laws § 31-1-630 cover?
Section 31-1-630 ("Reduction of rentals.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 31-1-630?
A common citation format is "South Carolina Code of Laws § 31-1-630" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 31-1-630 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.